VINCI to acquire Solétanche
25 January 2007 - Acquisitions
VINCI is to acquire 81% of the capital of Solétanche (parent company of Solétanche Bachy) from its historical family shareholders, increasing its holding to 100%.
Solétanche Bachy is one of the world leaders in special foundations and soil improvement. It provides its public and private sector customers with globally recognised technical expertise and innovative solutions.
The acquisition of Solétanche Bachy is to occur at a time when the market looks promising, since good quality soils are becoming rare and the constraints for constructibility and environmental standards are increasingly tough.
Solétanche Bachy has an international presence, with sites in over 50 countries. Its turnover for 2006 is set to exceed 1 billion euros, over 70% of which is achieved outside France - 30% in other European countries and 40% in the rest of the world. Solétanche Bachy has a workforce of 4,000. Its international dimension provides promising geographical complementarity for development and synergies with all components of the VINCI group.
The company has a quality management team that will pursue the development objectives underway, which are perfectly in line with VINCI's strategic plan.
This continuity will naturally also apply to the relationships Solétanche Bachy maintains and develops with all of its customers and partners.
The acquisition will become effective on completion of the ongoing operational review and consultation of employee representation bodies, and after the relevant administrative authorisations have been obtained.
VINCI is a global player in concessions and contracting, employing close to 195,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.